NEWS

SOURCE: Tao Minerals, Ltd.

   Sep 30, 2008 09:30 ET   Tao Minerals to Begin Mining Operations at Its El Colmillo Gold Mine   MEDELLIN, COLOMBIA--(Marketwire - September 30, 2008) -  Tao Minerals, Ltd. (OTCBB: TAOL) is pleased to announce that it will be initiating mining operations at its El Colmillo Gold Mine in early October. According to project manager, Juan Restrepo, P. Geo., the items of equipment, including the electrical generation plant, necessary to begin ore extraction operations are either already on site or in shipment, with arrival due shortly. The jaw crusher, critical to the operation of the processing plant, will be on site and in place by mid-October. The hiring of the workforce for the mine has been completed and the procurement of dynamite accomplished. Local authorities, enthused over the economic benefits the operation of the mine will bring to their community, are assisting Tao with the completion of the maintenance of the mine access road. In fact, Tao is pleased with the positive reception it has received from the local population, in general, and plans to continue to conduct its operations in a manner that will maintain its image as a valuable asset to the community.

 

According to Restrepo, Tao will begin mining operations by extracting and accumulating as much as a month's worth of ore production before activating the ore processing plant, sometime in late October. This approach will ensure that, once begun, processing of the ore will be able go forward without interruption. Initially, ore mining and processing will be conducted at the rate of 20 tonnes per day.

"As you can imagine, we are very excited to be starting up mining operations at El Colmillo," commented James Sikora, CEO of Tao. "This is what we have been planning and working for. At El Colmillo, Tao is transitioning from exploration to operations and is looking forward to the benefits of that shift in the form of cash flow and profits, which, in turn, should translate into much higher share values. We will be providing additional progress reports as the mining of ore proceeds and ore processing is initiated."

About Tao Minerals, Ltd.

Tao Minerals (OTCBB: TAOL) is a junior exploration company based in Medellin, Colombia. Tao is successfully positioning itself as a leader in gold exploration in Colombia through key acquisitions of properties with exceptional potential for low extraction cost deposits. Tao's focus in calendar 2008 is on the upgrading and initiation of operations of its El Colmillo mine, which offers the potential to quickly provide a strong revenue stream, able to fund exploration activities on the estimated high grade gold deposit of its Golondrina property and finance additional acquisitions, while greatly enhancing shareholder value.

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the start up of the El Colmillo Gold Mine, that the Phase 1 initial production may be 20 tonnes per day, the receipt of the equipment that has been ordered for the mine that initial mine production will begin within approximately 60 days, the timing and execution of second and third phase production increases, or an optimal third phase mining/processing target of up to 100 tonnes of ore per day.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.  

 

 

du hast mal wieder excellent recherchiert und analysiert - meine hochachtung vor so viel börsenwissen.
da merkt man direkt, das du schon x-mal auf börsenbriefe reingefallen bist und noch nie die unternehmensseiten besucht hast.
geschweige denn die von taominerals.

louisaner